Innovation ecosystems in developing markets: empirical evidence from Russian electric power industry

Abstract

ABSTRACT Following the rise of innovation ecosystems (IEs) in various sectors around the world, we observe a corresponding increase in IE-related studies. And while the existing body of knowledge provides a rather solid conceptualisation of the phenomenon and its distinctive characteristics, we still lack an understanding of its structure, the behaviour of participants, governance, and regulation. At the same time, most of the IE-related studies are conducted within developed contexts, which limits the generalizability of available evidence. Our study aims to fill the abovementioned gaps in the literature and makes several contributions. First, our results shed more light on the structure of IE and the role of the focal firm. Second, the study provides important empirical evidence on peculiarities of behaviour among IE participants and the composition of various IEs thus enhancing our understanding of IE development processes. Third, this research provides insights into tactics and governance mechanisms within the studied IEs, therefore, expanding the current body of knowledge on IE governance and regulation. Finally, we complement the existing body of literature with additional empirical evidence from an emerging market context. Results of this study also include valuable empirical implications for managers and policymakers in the context of the expanding IE-related activities.